Moody's warns of cuts to bond insurers' credit ratings

12/17/2007 | Bloomberg

A warning from Moody's Investors Service about possible cuts to the credit ratings of MBIA, CIFG Guaranty, FGIC and XL Capital Assurance is shining a harsh spotlight on the $1.2 trillion bond market. "FGIC and MBIA are two of the big four bond insurers," said Matt Fabian, a senior analyst and managing director at an independent research firm. "I don't think anyone expected a downgrade, so this is about as bad as you reasonably could have expected."

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